AstraZeneca Purchases FibroGen China for ~$160M
Shots:
- AstraZeneca has purchased FibroGen’s China subsidiary for ~$160M ($85M enterprise value + ~$75M net cash) with closing expected in mid-2025, obtaining full rights to roxadustat in China
- The sale allows FibroGen to repay its Morgan Stanley Tactical Value loan & extend its cash runway to 2027 for advancing FG-3246 in P-II trial for mCRPC (expected to begin in Q2’25) & develop its companion PET imaging agent, FG-3180
- Additionally, FibroGen retains rights to roxadustat in the US & non-Astellas markets & plans to develop roxadustat in anemia with LR-MDS. FDA meeting is planned in Q2’25 for roxadustat development program in US
Ref: FibroGen | Image: AstraZeneca & FibroGen
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Ridhi is an avid secondary researcher who follows trends in the biopharmaceutical and healthcare sectors to curate engaging content for the global audience. She works as a news editor at PharmaShots and loves to read books and explore new destinations.
